Scotiabank Cuts NexGen Energy (TSE:NXE) Price Target to C$11.50

NexGen Energy (TSE:NXE) had its price objective lowered by investment analysts at Scotiabank from C$12.00 to C$11.50 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Scotiabank’s target price indicates a potential upside of 62.20% from the stock’s current price.

Other analysts have also issued reports about the stock. National Bankshares lowered their price objective on shares of NexGen Energy from C$13.50 to C$12.50 and set an “outperform” rating for the company in a research note on Friday, March 7th. TD Securities dropped their price objective on shares of NexGen Energy from C$13.00 to C$12.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Finally, Stifel Canada raised shares of NexGen Energy to a “strong-buy” rating in a research note on Tuesday, March 11th. Six investment analysts have rated the stock with a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of C$13.22.

NexGen Energy Trading Down 4.1 %

Shares of TSE:NXE traded down C$0.30 during trading on Tuesday, reaching C$7.09. 859,396 shares of the company were exchanged, compared to its average volume of 1,786,052. The company has a debt-to-equity ratio of 35.49, a current ratio of 1.16 and a quick ratio of 8.20. The firm has a market capitalization of C$4.01 billion, a PE ratio of 27.15 and a beta of 1.76. The business’s fifty day simple moving average is C$8.44 and its 200-day simple moving average is C$9.41. NexGen Energy has a 12-month low of C$6.44 and a 12-month high of C$12.51.

About NexGen Energy

NexGen Energy Ltd is a mineral exploration company. It is engaged in the acquisition, exploration, evaluation and development of uranium properties in Canada. The company’s projects portfolio consists of ROOK I, Radio Property, and the IsoEnergy, at the Athabasca Basin. The Rook I property hosts the world-class Arrow Zone, the Bow discovery.